The premium segment (Rs 30,000 and above) contributed 11 percent to India’s smartphone shipments and 35 percent to overall market revenue in 2022, the highest ever. Samsung led the market in terms of shipment value share in 2022 with a 22 percent share, followed by Apple, in the country, according to Counterpoint Research.
However, in terms of shipment volume, Xiaomi led the market in 2022 with a share of 20 percent, closely followed by Samsung.
Xiaomi fell to the third position in the fourth quarter of 2022 with Samsung and Vivo taking first and second places respectively.
5G smartphones captured a share of 32 percent in 2022. Samsung became the top-selling 5G brand in 2022 with a 21 percent share.
Apple continued to lead the premium smartphone segment, with the iPhone 13 emerging as the best-selling model. Apple also led the market in the fourth quarter of 2022 in terms of shipment value.
“Consumer demand started to decline from the second quarter when the global economy was crippled by various macroeconomic issues such as all-time high inflation, rising unemployment and geopolitical conflicts, which also affected India’s economy,” says senior research analyst Prachir Singh.
Inventory build-up across channels after the second quarter led to lower-than-expected shipments during the year’s second half.
“We believe that the supply and demand situation will continue to impact the market in the first half of 2023 before improving in the latter half, driven by the festive season and upgrades to 5G devices,” Singh added.
India’s smartphone shipments fell 9 percent year-on-year to reach over 152 million units in 2022, according to the report.
The decline, the second ever in India’s smartphone market, can be attributed to the decline in entry-level and budget segments that faced supply constraints at the start of the year and then saw lower demand throughout the year.
“While entry-level and budget segments were the most affected, the premium segment remained immune and showed double-digit growth. OEMs’ increased focus, consumers upgrading for premium features and, above all, availability of various financing schemes,” said Shilpi, research analyst. Jain.
Overall, Indian smartphone market revenue remained flat despite a 9 percent year-on-year decline in shipments.
OnePlus grew 50 percent year-on-year in 2022 driven by the OnePlus Nord CE 2 series.
It has focused on diversifying and expanding its product portfolio across different price points and increasing its offline presence to boost sales, the report said.
(This report was published as part of the auto-generated syndicated wire feed. Other than the headline, no editing was done to the copy by ABP Live.)